Pivot Points – daily, weekly, monthly – for MetaTrader4 – download

I tried to find the best Pivot Points indicator for a long time. I like this one the best, because of possible options. You can select periods for Pivot Points calculation, you can draw:

1-hour Pivot Points

4-hour Pivot Points

daily Pivot Points

weekly Pivot Points

yearly Pivot Points

This indicator also draws Pivot Points history. This is a great option, because it helps to analyze trading system on historical price action. When you are trading Forex, you should pay attention to the Pivot Points. It works great on Forex pairs but also Pivot Points are in use by traders in CFD handel.

About Pivot Points

Pivot Points lines are calculated based on previous open, high, low, close data. So if we are using daily Pivot Points then lines are calculated on open, high, low, close from previous day. On chart we have:

Pivot line – middle line

resistance lines – R1, R2, R3… They are above Pivot line and are possible reversal levels when price is going up

support lines – S1, S2, S3… They are below Pivot line and are possible support levels when price is going down

middle lines – with MM labels – lines in the middle between supports and resistance lines

You can use Pivot Points in trading Forex, stocks, commodities and other instruments.

Installation

Unzip file.
In Metatrader4 open File menu (left top) and select Open Data Folder. You should see a new window with MT4 folders and files. Something similar to the screen below:

Go to unzipped folder. Move content from MQL4/Indicators to the same folder in MT4 window.
Do the same with templates. Go to the Templates folder and copy content to the same folder in MT4 window.

Retail trader. I trade mostly Forex, indices and some commodities. I prefer technical analysis, but I do not forget about fundamentals.
It took me a while to be profitable and learn how to trade. I like trading, but I also like to write about it and teach other people. That is why I started this blog. If you like this content check my Instagram, Facebook page and subscribe to the newsletter.

red and green marks resistance and support from M line to support (S2)/resistance (R2) line. M line is simply middle line. S2 and R2 lines are most often a target for current swing move. Between R1 and R2 line, in the middle is M line (and area up to the R2 has red background). Same with S1 and S2, but area between M line and S2 line has green background.

Or to put it in more simple explanation:
– red area is where you look to take profits from shorts
– green area is where you look to take profits from long

Thanks for providing this indicator, hopefully it will take my trading to the next level.
It all looks a mess at the moment,what settings should i be using?
I have changed the hourly settings to false
I can see Ypp/ Ym/ Yr/ Ys
Do you have a video explaining the settings or instructions available?

This pivot indicator is very nice, but it lacks a feature of changing color of the PP? I use a black background on my charts and then the PP is not visible because it’s black only.
An extra option to at least change this color would be an improvement, instead of changing all the charts…

The fastest way should be editing MQL code of indicator. Go to the code and remove pivot line or change color to transparent. If you struggle to do that, find some programmer who will help you with that (you can find MQL programmers on upwork.com for example).

I think i set it up properly now. im just showing the weekly lines. i did not modify the code. im just showing just weekly lines with daily for the timeframe. Im also using fractels indicator that shows reversals.

Great Indicator, I’m looking at the daily pivot points, and it looks like they are done off a 24 hour period on the chart 0:00 – 0:00 the next day. This doesn’t work too well for indices where these periods don’t match the market trading hours. Do you know how to change the periods that the indicator uses to calculate the close of the market?

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Welcome to Fibotrading.net, forex trading blog. It is a place where you will find a ton of free trading materials. I write about trading with technical analysis, mostly about Fibonacci trading joined with Pivot Points.